$250 a Month Mortgage

How much mortgage can you get for $250 a month? Calculate home price based on $250 monthly payment.
$
%

With the parameters you selected, \${$pageVals->prettyPayment}/mo will pay for a {$big} home loan.

This does not include the cost of insurance, repairs, taxes, PMI, HSA dues, or other costs.

How expensive of a home can I buy for $250 a month?
This calculates the amount of a mortgage that you can get with a $250 monthly payment. This is calculated based on the monthly payment, interest rate APR, and loan length. Add the down payment to the loan amount to find the total amount of the house that 250/month will afford.
What other costs do I need to consider?
Property Taxes: After the mortgage, your property taxes are usually the biggest expense on a property. Taxes are usually reset to a higher amount after you buy a home. A quick way to estimate your property taxes is to find your local millage rate and multiply by the taxable value of your home. The previous owner typically has a lower taxable value than your purchase price. When the taxable value is reset, your property taxes could increase significantly.
Maintenance: Over time, things break and need to be repaired. Consider these regular costs.
HOA Fees: If you buy a condo, HOA fees can be a large expense and these typically increase over time as the property ages.
Home Insurance: Home insurance is typically not too big of an expense but this can vary by region.
Mortgage Fees: Compare mortgages based on both interest rates and fees. Fees can vary widely based on the mortgage provider.
Down Payment: A standard down payment on a 30 year fixed rate mortgage is 20% of the purchase price however many loan programs offer lower down payments.
Mortgage Amount by Monthly Payment - 30 Year Fixed Mortgage
Payment 3% APR 4% APR 5% APR 6% APR 7% APR
250 / mo 59,297 52,365 46,570 41,698 37,577
255 / mo 60,483 53,413 47,502 42,532 38,328
260 / mo 61,669 54,460 48,433 43,366 39,080
265 / mo 62,855 55,507 49,365 44,200 39,832
270 / mo 64,041 56,555 50,296 45,034 40,583
275 / mo 65,227 57,602 51,227 45,868 41,335
280 / mo 66,413 58,649 52,159 46,702 42,086
285 / mo 67,599 59,696 53,090 47,536 42,838
290 / mo 68,785 60,744 54,022 48,370 43,589
295 / mo 69,971 61,791 54,953 49,204 44,341
300 / mo 71,157 62,838 55,884 50,037 45,092
305 / mo 72,343 63,886 56,816 50,871 45,844
310 / mo 73,529 64,933 57,747 51,705 46,595
315 / mo 74,715 65,980 58,679 52,539 47,347
320 / mo 75,901 67,028 59,610 53,373 48,098
325 / mo 77,087 68,075 60,542 54,207 48,850
330 / mo 78,272 69,122 61,473 55,041 49,601
335 / mo 79,458 70,170 62,404 55,875 50,353
340 / mo 80,644 71,217 63,336 56,709 51,105
345 / mo 81,830 72,264 64,267 57,543 51,856
350 / mo 83,016 73,311 65,199 58,377 52,608
Loan Amount by Rate. 30 year fixed, $250/mo
Interest Rate Mortgage
2.000% 67,637
2.125% 66,507
2.250% 65,403
2.375% 64,325
2.500% 63,272
2.625% 62,243
2.750% 61,238
2.875% 60,257
3.000% 59,297
3.125% 58,360
3.250% 57,444
3.375% 56,549
3.500% 55,674
3.625% 54,818
3.750% 53,982
3.875% 53,165
4.000% 52,365
4.125% 51,584
4.250% 50,819
4.375% 50,072
4.500% 49,340
4.625% 48,625
4.750% 47,925
4.875% 47,240
5.000% 46,570
5.125% 45,915
5.250% 45,273
5.375% 44,645
5.500% 44,030
5.625% 43,429
5.750% 42,840
5.875% 42,263
6.000% 41,698
6.125% 41,145
6.250% 40,603
6.375% 40,072
6.500% 39,553
6.625% 39,044
6.750% 38,545
6.875% 38,056
7.000% 37,577